Questions and Answers of Statistics for Management

In a Reason-Rupe poll, a random sample of people were asked, “Just a rough guess, what percent profit on each dollar of sales do you think the average company makes after taxes?” The results from
Is there a tax on the poor? The tax on income is progressive in that higher income individuals pay at a high rate than lower-income people. For example, the top 0.1 percent of taxpayers earn 9.1
Study after study indicate that men earn higher incomes than women (SEX: 1 = Male, 2 = Female).a. To determine the extent of the differential in 2014 estimate the difference between male and female
Immigration has become an important topic in American politics. Some immigrants came o the United States to do jobs that Americans do not want to do. Many of these immigrants have little formal
Because many immigrants come to the United States with little money they often are willing to take risks that can result in high incomes. However, is this enough to overcome language and culture
In most countries including the United States, younger people tend to be on the left side of the political spectrum. If so, we would expect Republicans to be older than Democrats.a. Conduct a test to
Republicans tend to prefer smaller less intrusive government and lower taxes. Is this because Republicans have higher incomes (PARTYID3: 1 = Democrat; 3 = Republican)?a. Do the data allow us to
Refer to Exercise 13.59. If it is true that Republicans (PARTYID3: 1 = Democrat; 3 = Republican) have higher incomes than Democrats, is it because they work harder?a. Conduct a statistical test to
Does education play a role to explain the results in Exercise 13.59.a. Test to determine whether there is enough evidence to infer that Republicans (PARTYID3: 1 = Democrat; 3 = Republican) more
Perhaps another way to explain the outcome of the test in Exercise 13.59 is that Republicans wait longer to have children.a. Test to determine whether Republicans are older than Democrats (PARTYID3:
We can attempt to explain the results in Exercise 13.63 by determining whether Conservatives are more educated than Liberals (POLVIEWS3: 1 = Liberal, 3 = Conservative). Test to determine whether
As was the case with Democrats and Republicans we would expect that Conservatives would have higher incomes (POLVIEWS3: 1 = Liberal, 3 = Conservative)a. Conduct a statistical test to determine
Another way to explain the results of Exercise 13.64 is to look at the differences in the number of hours of work.a. Is there sufficient evidence to infer that Conservatives work longer hours than
Are government jobs more complex requiring more education than do private sector jobs?a. Test to determine whether there is enough evidence to conclude that government workers (WRKGOVT: 1 =
As a general rule government employees (WRKGOVT: 1 = Government, 2 = Private) have more job security than do private sector employees. Do they also have higher incomes RINCOME)?a. Conduct a test to
The upside to working for self-employment is that there is virtually no upper limit to income. If so, we would expect self-employed individuals (WRKSLF: 1 = Self-employed, 2 = Someone else) to have
Incomes of people who work for themselves are likely more variable than people who work for someone else. That’s because incomes for someone who is self employed range from $0 to virtually
In most countries including the United States, men have higher incomes than women. Does this hold when comparing middle class heads of households (HHSEX: 1 = male, 2 = female)?a. Is there sufficient
Refer to Exercises 13.33 and 13.101. Explain why the matched pairs experiment produced significant results whereas the independent samples t-test did not.
Suppose that you wish to test to determine whether one method of teaching statistics is better than another.a. Describe a data-gathering process that produces observational data.b. Describe a
Are the data in Exercise 13.18 observational or experimental? Explain. If the data are observational, describe a method of producing experimental data.
Refer to Exercise 13.17. If the data are observational, describe another conclusion other than the one that infers that Tastee is better for babies.
The best way of winning at blackjack is to “case the deck,” which involves counting 10s, non-10s, and aces. For card counters, the probability of winning a hand may increase to 52%. Repeat
Several books teach blackjack players the “basic strategy,” which increases the probability of winning any hand to 50%. Repeat Exercise 7.102, assuming the player plays the basic strategy.
The probability of winning a game of craps (a dicethrowing game played in casinos) is 244/495.a. What is the probability of winning 5 or more times in 10 games?b. What is the probability of winning
According to a recent Gallop poll only 29% of American adults said they were satisfied with the way things are going in the United States. Suppose you randomly select 10 American adults and ask each
In a recent survey the Pew Research Center asked graduates of private universities whether they were satisfied with their current job and 72% said they were. Suppose you take a sample of four private
Dermatologists strongly recommend that people who are exposed to sunlight should either be covered up or put on sunscreen. Suppose that at a Florida condominium pool only a quarter of residents sit
According to a Pew Research Center survey 30% of graduates who had student loans are delinquent (90 or more days behind in their payments. Suppose that a survey of 10 such graduates is taken.a. What
According to a Gallup poll 27% of American adults have confidence in banks. Suppose that you interview 5 Americans adults at random.a. What is the probability that 2 or fewer have confidence in
According to the American Academy of Cosmetic Dentistry, 75% of adults believe that an unattractive smile hurts career success. Suppose that 25 adults are randomly selected.a. What is the probability
The leading brand of dishwasher detergent has a 30% market share. A sample of 25 dishwasher detergent customers was taken.a. What is the probability that 10 or fewer customers chose the leading
A Jiffy Lube franchise manager is concerned about the amount of time it takes for his technicians to change the oil and filters of cars. The current mean time for the complete operation is 18
Use the χ2 table (Table 5) to find the following values of χ2.a. χ2 .90, 26 b. χ2 .01, 30 c. χ2 .10, 1 d. χ2 .99, 80
Use the F table (Table 6) to find the following values of F.a. F.05, 3, 7 b. F.05, 7, 3 c. F.025, 5, 20 d. F.01, 12, 60
Use the F table (Table 6) to find the following values of F.a. F.025, 8, 22b. F.05, 20, 30c. F.01, 9, 18d. F.025, 24, 10
Refer to Exercises 9.9–9.11. What do the probabilities tell you about the variances of X and X?
Refer to Exercise 9.13. Suppose that the population is not normally distributed. Does this change your answer? Explain.
Repeat Exercise 9.15 with n = 100.In exercise 9.15A sample of n = 16 observations is drawn from a normal population with μ = 1,000 and σ = 200.Find the following.a. P(X̅ > 1,050)b. P(X̅ <
Refer to Exercise 9.23. If the population of women’s heights is not normally distributed, which, if any, of the questions can you answer? Explain. In exercise 9.23The heights of North American
Statisticians determined that the mortgages of homeowners in a city is normally distributed with a mean of $250,000 and a standard deviation of $50,000. A random sample of 100 homeowners was drawn.
Refer to Exercise 9.26. Does your answer change if you discover that mortgages are not normally distributed?
The sign on the elevator in an office tower states, “Maximum Capacity 1,140 kilograms (2,500 pounds) or 16 Persons.” A professor of statistics wonders what the probability is that 16 persons
Refer to Exercise 9.36. Does your answer change if you discover that the times needed to mark a midterm test are not normally distributed?
The property tax paid by homeowners in a large city was determined to be normally distributed with a mean of $2,800 and a standard deviation of $400. A random sample of four homes was drawn.a. What
How would you answer Exercise 9.40 if property tax is not normally distributed?
Refer to Exercise 9.55. A survey of a random sample of 1,200 undergraduate business students indicates that 336 students plan to major in accounting. What does this tell you about the professor’s
In 2014, approximately 13% of nonelderly Americans adults had no health insurance. Suppose that a random sample of 400 such individuals was drawn. What is the probability that 15% or more had no
In a Gallup survey, Americans were asked about their main source of news about current events around the world. If 20% of the population report that their main source is television news, find the
Most televised baseball games display a pitch tracker that shows whether the pitch was in the strike zone, which in turn shows whether the umpire made the correct call. Major League Baseball keeps
Repeat Exercise 9.59 for the worst umpire.In exercise 9.59Most televised baseball games display a pitch tracker that shows whether the pitch was in the strike zone, which in turn shows whether the
Repeat Exercise 9.61 with samples of size 50.In exercise 9.61Independent random samples of 10 observations each are drawn from normal populations. The parameters of these populations arePopulation 1:
Repeat Exercise 9.61 with samples of size 100.In exercise 9.61Independent random samples of 10 observations each are drawn from normal populations. The parameters of these populations arePopulation
Repeat Exercise 9.64 assuming that the standard deviations are 12 and 16, respectively.In exercise 9.64Suppose that we have two normal populations with the means and standard deviations listed here.
Repeat Exercise 9.64 assuming that the means are 140 and 138, respectively.In exercise 9.64Suppose that we have two normal populations with the means and standard deviations listed here. If random
Is the sample median a consistent estimator of the population mean? Explain.
Show that the sample mean is relatively more efficient than the sample median when estimating the population mean.
Among the most exciting aspects of a university professor€™s life are the departmental meetings where such critical issues as the color of the walls will be painted and who gets a new desk
The number of cars sold annually by used car salespeople is normally distributed with a standard deviation of 15. A random sample of 15 salespeople was taken, and the number of cars each sold is
It is known that the amount of time needed to change the oil on a car is normally distributed with a standard deviation of 5 minutes. The amount of time to complete a random sample of 10 oil changes
One of the few negative side effects of quitting smoking is weight gain. Suppose that the weight gain in the 12 months following a cessation in smoking is normally distributed with a standard
The rising cost of electricity is a concern for homeowners. An economist wanted to determine how much electricity has increased over the past 5 years. A survey was conducted with the percentage
How much do American families spend on entertainment each month. A survey was conducted and the amounts spent on entertainment in the previous month were recorded. Assuming that the population
Registered Retirement Savings Plan are retirement plans that defer taxes. Many Canadians rely on these plans for their retirement. To measure how these are doing, a random sample of 60-yearold
It is the responsibility of the federal government to judge the safety and effectiveness of new drugs. There are two possible decisions: approve the drug or disapprove the drug.Feature nonstatistical
You are contemplating a Ph.D. in business or economics. If you succeed, a life of fame, fortune, and happiness awaits you. If you fail, you’ve wasted 5 years of your life. Should you go for
You are the centerfielder of the New York Yankees. It is the bottom of the ninth inning of the seventh game of the World Series. The Yanks lead by 2 with 2 outs and men on second and third. The
You are the pilot of a jumbo jet. You smell smoke in the cockpit. The nearest airport is less than 5 minutes away. Should you land the plane immediately?feature nonstatistical applications of
Research objective: The population mean is greater than 7.5.σ = 1.5, n = 30, x̅ = 8.5Calculate the p-value of the test to determine that there is sufficient evidence to infer each research
Research objective: The population mean is not equal to 1,500.σ = 220, n = 125, x̅ = 1525Calculate the p-value of the test to determine that there is sufficient evidence to infer each research
Calculate the value of the test statistic, set up the rejection region, determine the p-value, interpret the result, and draw the sampling distribution.H0: μ = 15H1: μ < 15σ = 2, n = 25, x =
Research objective: The population mean is less than 250.σ = 40, n = 70, x̅ = 240
A fire inspector has conducted an extensive analysis of the number of smoke detectors and the number of carbon monoxide detectors in the homes in a large city. The analysis led to the creation of the
Refer to Exercise 7.49. Use the laws of expected value and variance of the sum of two variables to compute the mean and variance of X + Y .In exercise 7.49The bivariate distribution of X and Y is
Refer to Exercise 7.49. Compute the covariance and the coefficient of correlation.In exercise 7.49The bivariate distribution of X and Y is described here.a. Find the marginal probability distribution
Refer to Exercise 7.49.a. Determine the distribution of X + Y.b. Determine the mean and variance of X + Y.c. Does your answer to part (b) equal the answer to Exercise 7.49?In exercise 7.49The
Refer to Exercise 4.95. In another survey by the Bureau of Labor Statistics respondents who reported that they rent their dwelling were asked their age and how much they spend annually on rent. Use a
To determine the relationship between age of cars and annual repair costs a random sample of car owners was drawn and the two variables were recorded. Calculate statistics to determine whether cost
A professional income tax preparer recorded the amount of tax rebate and the total taxable amount of a sample of 80 customers. Compute whichever statistics you need to determine whether tax rebates
Carbon monoxide (CO) in the home is caused by faulty furnaces burning natural gas or heating oil. Concentrations above 35 parts per million (ppm) is considered dangerous. Suppose that a municipal
The U.S.–Canada exchange rate has fluctuated over the past 45 years. Can any single commodity explain these fluctuations? Is it oil, for example? Canada sells a lot of oil to the United States. It
The number of wins, team payrolls, home attendance, and away attendance were recorded for the 2015–2016 a. Conduct an analysis to determine the marginal cost of winning one more game.b.
Repeat Exercise 4.105 for the 2012–2013 National Basketball Association season.Data from 4.105The number of wins, team payrolls, home attendance, and away attendance were recorded for the
Repeat Exercise 4.107 for the 2012–2013 National Football League seasonData from 4.107The number of wins, team payrolls, home attendance, and away attendance were recorded for the 2015–2016
The number of wins, team payrolls, home attendance, and away attendance were recorded for the 2015–2016 National Football League season.a. Estimate the marginal cost of winning one more game.b.
We recorded the number of wins, team payrolls, home attendance, and away attendance for the 2015–2016 National Hockey League season.a. Estimate the marginal cost of winning one more game.b.
Repeat Exercise 4.109 for the 2012–2013.Data from 4.109We recorded the number of wins, team payrolls, home attendance, and away attendance for the 2015–2016 National Hockey League season.a.
Dow Jones Industrials stocks listed on the New YorkStock Exchange (The other four are on the NASDAQ.) for the period January 2011– December 2015.3M (MMM)American Express (AXP)Boeing (BA)Caterpillar
Monthly returns for the Toronto Stock Exchange Index and the following selected stocks on the Toronto Stock Exchange were recorded for the years 2011 to 2015:Barrick Gold (ABX)Bombardier (BBD.B)Bell
We calculated the returns on the NASDAQ Index and the following selected stocks on the NASDAQ Exchange for the period January 2011–December 2015.Adobe Systems (ADBE)Amazon (AMZN)Amgen (AMGN)Apple
Calculate the coefficient of determination for Exercise 3.58. Is this more informative than the scatter diagram?
Refer to Exercise 3.59. Compute the coefficients of the least squares line and compare your results with the scatter diagram.
Compute the coefficient of determination and the least squares line for Exercise 3.64.Compare this information with that developed by the scatter diagram alone.
Refer to Exercise 3.67. Calculate the coefficient of determination and the least squares line. Is this more informative than the scatter diagram?
a. Calculate the coefficients of the least squares line for the data in Example 3.7.b. Interpret the coefficients.c. Is this information more useful than the information extracted from the scatter
In Exercise 4.71 you calculated quartiles. Draw histograms instead and compare the results.
Refer to Exercise 4.74. Draw histograms of the data. What have you learned?
Calculate the coefficient of correlation of the amount of education of the respondents and their spouses (EDUC and SPEDUC). What does this statistic tell you about the relationship between the two
Is someone’s education (EDUC) affected by his or her father’s education (PAEDUC)? Use a statistical analysis to answer the following questions:a. How strong is the linear relationship between the
Repeat Exercise 4.146 for the respondents’ mothers education (MAEDUC).Data from 4.146Is someone’s education (EDUC) affected by his or her father’s education (PAEDUC)? Use a statistical analysis

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